The Private Enterprise Foundation (PEF), was founded on the initiative of four major business associations: Association of Ghanaian Industries (AGI), Ghana National Chamber of Commerce (GNCC), the Ghana Employers Association (GEA), and the Federation of Associations of Ghanaian Exporters (FAGE), which have felt the need to come together to exert greater influence on policy initiatives for the creation of an enabling environment in which private sector businesses can thrive as partners in the Economic Development of the Country. PEF is a non-profit making, non-political, autonomous institution,
incorporated on January 24,1994, as a Company Limited by guarantee under the Ghana Companies Code, Act 179 with AGI, GNCC, GEA and FACE as the founding members. Membership is open to private businesses and trade associations. The Ghana Association of Bankers was also later admitted as the fifth founding member.